Decree for specific performance of contract for the sale or lease of immovable property
Full Text
Where a decree for the specific performance of a contract for the sale or lease of immovable property orders that the purchase-money or other sum be paid by the purchaser or lessee, it shall specify the period within which the payment shall be made.
Plain English Summary
Requires every decree for specific performance of an agreement to sell or lease immovable property to explicitly specify the time period within which the balance purchase consideration must be deposited.
Key Legal Elements
- Mandatory Payment Timeframe: Decree must specify exact days/months for balance deposit.
- Interplay with Section 28 Specific Relief Act, 1963: Court retains jurisdiction post-decree to extend time or rescind the contract upon buyer's default.
Practical Note
Depositing Balance Purchase Money & Section 28 SRA: 1. Time is of the Essence: If the decree specifies 60 days to deposit the balance ₹50 lakhs, the decree-holder must deposit it in Court within that timeframe. 2. Extension of Time: If funds cannot be arranged in time, file an application under Section 28(1) of the Specific Relief Act, 1963 read with Order XX Rule 12A CPC BEFORE the period expires seeking extension of time; otherwise, the vendor can apply to rescind the agreement.
हिंदी पाठ
जहां स्थावर संपत्ति के विक्रय या पट्टे की संविदा के विनिर्दिष्ट पालन (Specific Performance) की डिक्री में यह आदेश दिया जाता है कि क्रेता या पट्टेदार द्वारा क्रय-धन या अन्य राशि चुकाई जाए, वहां उसमें वह अवधि विनिर्दिष्ट होगी जिसके भीतर संदाय किया जाएगा।